Taiwan’s onshore and offshore fund assets declined in the first quarter of 2022 as the Russia-Ukraine war weighed on global financial markets.
According to data compiled by Keystone Intelligence, Taiwan’s onshore fund market’s assets under management fell 2.5% to US$177.2 billion in the three months to March from $181.8 billion at the end of 2021, in spite of $11.1 billion of net sales, mostly of exchange-traded funds.
In the offshore fund market, assets under management fell a sharper 6.2% to $132 billion from $141 billion at the end of last year.
Yuanta Securities Investment Trust Enterprises (SITE), Cathay SITE and Capital SITE were the onshore firms with the highest assets and the biggest market shares.
Yuanta had $28.1 billion of assets under management in the first quarter and its market share rose to 16.1% from 15.4% in the fourth quarter of 2021.
Cathay had $19 billion of assets and a market share of 10.8%, up from 10.2% previously. Capital had $15 billion of assets and its market share was unchanged at 8.6%.
In the offshore fund market, frontrunner AllianceBernstein SITE’s market share dropped to 18.7% from 19.3%. Second placed Allianz SITE, increased its share to 17.5% from 15.9%, and JPMorgan SITE was in third spot with its market share holding steady at 13.1%.
Allianz SITE had the highest net sales of $2.17 billion. BNP Paribas Securities Investment Consulting Enterprises was second with $443 million, followed by JPMorgan SITE with $267 million.
*Donna Chen is with Taipei-based investment consulting firm Keystone Intelligence.
